A ‘Let’s Get Britain Working’ campaign has raised hundreds of pounds in public donations to help jobseekers find work.

The Emergence Opportunities company has proved successful in building jobseekers’ self worth and giving them the tools to find work.

The organisation’s ‘Be Your Best Self’ programme helped 44 per cent of participants to find work compared to the Department of Work and Pension’s 5.5 per cent target.

But funding has now dried up – kickstarting an ambitious £100,000 campaign which aims to continue to give jobseekers free access to the programme.

Its founder Julian Alexander said: ‘The fact I’ve been unemployed myself, and so I know first-hand what it’s like and how people suffer and become disillusioned and start to lose hope.

‘I was one of the ranks of the unemployed and it gave me the insight I needed to know what was lacking both from the official programmes and also what was needed by the unemployment benefits claimants.

‘Being out of work is very stressful. One of my clients called the visit to the Jobcentre the ‘walk of shame’.

‘With those sorts of attitudes it’s no wonder it is difficult to flourish and be successful.’

The programme’s participants are professionally assessed on their wellbeing, mental state, levels of optimism and stress, whilst Mentors help identify skills, strengths, achievements and goals.

Global giant HSBC stuck two fingers up at regulators who want to rein in greedy bankers.

The group awarded an £8million pay package to boss Stuart Gulliver and announced it had come up with a tactic so its other highest-earning staff could sidestep a cap on bonuses.

It said it would pay them fixed pay allowances which are not tied to performance to get around EU rules limiting bonuses to twice annual salary.

‘HSBC haven’t so much circumvented EU rules on bonuses as driven a coach and horses through them,’ said David Hillman, of the Robin Hood Tax campaign. ‘The only way to rein in bankers’ remuneration is to make banks pay their fair share to society.’

HSBC has managed to get around EU rules (Picture: PA)

HSBC announced its bonus pool had risen six per cent to £2.3billion in 2013. It doled out more than £1million each to 239 staff, including 93 in Britain and up from 204 the year before.

Mr Gulliver was handed his megabucks salary to become the highest earning banker in the country, even though his company turned in lacklustre profits of £14billion.

This year, he will get the same package, made up of £1.25million basic salary, topped up by a fixed pay allowance of £1.7million awarded in shares quarterly. Bosses at RBS and Barclays have waived their bonuses for last year but other banks are expected to use similar tactics to avoid the new cap.

TUC general secretary Frances O’Grady said it was ‘yet another example of soaraway boardroom greed’.

But Mr Gulliver insisted: ‘We had a compensation plan here that the shareholders liked but, sadly, because of the EU directive we’ve had to change. This isn’t something we would have wanted to do. It’s much more complicated.’

]]>http://metro.co.uk/2014/02/24/hsbc-sticks-two-fingers-up-at-regulators-with-8million-pay-package-for-boss-4317231/feed/0AD_128138137.jpgUndated handout photo issued by HSBC of HSBC Group Chief executive Stuart Gulliver who is in line for a big salary increase as the bank prepares to announce profits of nearly £15 billion for the last year. PRESS ASSOCIATION Photo. Issue date: Monday February 24, 2014. The pay rise reportedly under consideration for Stuart Gulliver will enable the bank to get round new European rules preventing bankers from being paid bonuses worth more than two times their salary. See PA story CITY HSBC. Photo credit should read: HSBC/PA Wire NOTE TO EDITORS: This handout photo may only be used in for editorial reporting purposes for the contemporaneous illustration of events, things or the people in the image or facts mentioned in the caption. Reuse of the picture may require further permission from the copyright holder.File photo dated 05/02/13 of a branch of HSBC whose hief executive is in line for a big salary increase as the bank prepares to announce profits of nearly £15 billion for the last year. PRESS ASSOCIATION Photo. Issue date: Monday February 24, 2014. The pay rise reportedly under consideration for Stuart Gulliver will enable the bank to get round new European rules preventing bankers from being paid bonuses worth more than two times their salary. See PA story CITY HSBC. Photo credit should read: Joe Giddens/PA WireFashionista Basma takes a tilt at Worth prizehttp://metro.co.uk/2014/02/23/fashionista-basma-takes-a-tilt-at-worth-prize-4315198/
http://metro.co.uk/2014/02/23/fashionista-basma-takes-a-tilt-at-worth-prize-4315198/#commentsSun, 23 Feb 2014 18:13:22 +0000http://metro.co.uk/?p=4315198]]>

Basma’s personal style has a huge following

Fashion blogger and entrepreneur Basma Kahie is looking to grow her online clothing business, after building up 260,000 followers to her ‘Basma-k-syle’ brand.

The glamorous 25-year-old from east London, is just one of the entrants to Metro business’s Worth Foundation Fund retail competition this month, with the hope of winning a slice of £300,000 in prize money and mentoring by some of the most successful names in the retail industry.

Basma began blogging about her distinctive personal fashion and beauty style three years ago, and has since branched out into designing and selling clothes, Islamic hijab headscarves and jewellery.

She has since built up a dedicated following with one of her hijab-tying tutorial videos reaching nearly 35,000 views. Another 66,000 fashion fans follow her pictures on Instagram.

Basma said: ‘The accessories and clothes are mainly aimed at the Islamic market, but there are many lines, including party dresses, which will appeal to anyone, and lots of items sell out quickly.

‘I entered the competition because I need help on how to develop the business and expand as I know the demand is out there.’

The Worth Foundation Fund retail competition closes to entrants on March 7.

To be eligible, retailers must have been trading for no more than two years, have a turnover of less than £250,000, and a great idea they’re sure will be the next big thing.

The contest is free to enter at: worthretail.com/foundation. Investors who want to support the project should visit: seedrs.com/startups/worth, for details.
Also watch out for more details at: metro.co.uk/money, and on the Twitter page #Worth2014.

The Co-operative Group wants to leave its troubles behind with a new community focussed strategy

The Co-op could scrap its famous ‘divi’ payment in favour of a fund which supports community projects, as it builds a new strategy for the future, its boss said today.

But chief executive Euan Sutherland told Metro the move would only be made if the mutual’s 8 million members and the wider general public wanted it.

The embattled Co-op Group is currently in the middle of carrying out a huge national survey ‘Have Your Say’, designed to give it ideas on how to claw back public trust lost in scandals which have rocked its banking business.

Seventy per cent of the bank was sold off to investors last year to plug a £1.5bn gap in its finances caused by the purchase of Britannia Building Society and aborted plans to buy hundreds of Lloyds branches.

On top of that, its former bank chairman Paul Flowers was engulfed in a gay sex and drugs scandal.

As a result of the costs of problems, there will be no dividend paid to members this year in any event.

But if the poll shows people find the traditional ‘divi’ payment old fashioned for example, then the public share of profit could be spent on community projects instead.

The Co-op said 80,000 people had so far answered the questionnaire which asks their views on issues on attitude to business and how firms should benefit communities among others.

‘We want to make sure that the future of the Co-op is shaped for a future generation and it’s clear from the astonishing response that people are desperate to have their say,’ said Mr Sutherland, who took the helm last May.

‘Redistribution of future profits is an issue and it may be the public and members would prefer personal dividend to be replaced with funding for projects championing education into work for example.

‘The dividend has changed over the years anyway and is not guaranteed. We want to ensure community to be at the centre of our business.’

He said the results will be published ‘warts and all’ at the Co-operative Annual General Meeting in May.

Mr Sutherland said concerns that outside investors would now alter the Co-op group’s ethical stance were unfounded.

He said: ‘Investors are buying into our ethical business. We have a separate ethics committee and the ethical stance is written into our directorial duties. No part of this is being sacrificed.’

House prices have surged to an historic high, reaching an average of £250,000.

Property values rose by 5.5 per cent across 2013, with price growth ‘beginning to increase strongly’ across parts of the country, the Office for National Statistics said.

As usual, London is inflating the figures, with a 12.3 per cent rise in house prices in the year to December. That means the typical home in the capital costs £450,000, or 20 per cent higher than their peak before the credit crisis of 2008.

The house price index across Britain surpassed a previous record high reached in November.

Prices rose by 0.9 per cent between November and December.

Charity Shelter warned the figures were evidence that the market was ‘spiralling out of control’.

Campbell Robb, Shelter’s chief executive, said: ‘Schemes like Help to Buy are only making the problem worse by inflating house prices further.

‘To give the next generation a fighting chance, the government needs to get serious about building more affordable homes now.’

]]>http://metro.co.uk/2014/02/18/house-prices-hit-250000-all-time-high-4309286/feed/0Jayne Atherton for Metro.co.ukAD_127594023.jpgFile photo dated 27/01/14 of for sale signs displayed outside houses in Finsbury Park, North London as house prices have surged to another record high and now stand at one quarter of a million pounds on average, official figures show. PRESS ASSOCIATION Photo. Issue date: Tuesday February 18, 2014. Property values rose by 5.5% across 2013 to reach £250,000 in December, with price growth "beginning to increase strongly across parts of the UK", the Office for National Statistics (ONS) said. Price rises in London are still responsible for a "large part" of the upswing in values, the ONS said. London saw a 12.3% increase in house prices in the year to December pushing prices to £450,000 typically, which is one fifth (20.3%) higher than their pre-financial crisis peak in the capital in 2008. See PA story ECONOMY House. Photo credit should read: Yui Mok/PA Wirehouse prices graphicBritain now Europe’s biggest market for Ferrarihttp://metro.co.uk/2014/02/18/britain-now-europes-biggest-market-for-ferrari-4309200/
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One in every ten of Ferrari’s sports cars is now bought in Britain (Picture: AFP)

Big spending entrepreneurs have made Britain Europe’s biggest market for Ferraris – overtaking sales in Germany into the bargain.

One in every ten of its sports cars is now bought in Britain, the Italian manufacturer revealed.

British buyers snapped up 677 vehicles despite each model having a basic price tag of between £152,154 and £227,142.

This compared to German drivers who ordered 652 – a drop of almost 100 on the previous year.

According to the manufacturer, the idea that Ferrari drivers are largely celebrities and footballers is a myth.

Most cars are sold to successful business people who want to invest in the heritage brand as a reward, a spokesman said.

‘For many of the new British buyers, owning a Ferrari is definitely a lifetime dream which has been worked very hard for,’ he added. Fewer than 7,000 cars were built last year, meaning delivery can take between 12 and 18 months.

But buyers are prepared to wait for a luxury vehicle in which Formula One technology is a big draw.

Ferrari said: ‘Heritage is important. Vehicles have the same F1 badge on the side as the brand’s racing cars and also share F1 aerodynamics and engine management.

‘Personalisation costs around an extra €50,000 (£41,000) but it’s still very popular.’

The car maker also announced revenues and profits rose in 2013 despite capping production at its hi-tech factory in Modena, northern Italy, to keep the brand super-exclusive.

The biggest market is in the US where 2,035 cars were sold last year.

]]>http://metro.co.uk/2014/02/18/britain-now-europes-biggest-market-for-ferrari-4309200/feed/0INDONESIA-CORRUPTIONFerrari‘Candy Crush Saga’ game firm files for a New York public share salehttp://metro.co.uk/2014/02/18/candy-crush-saga-game-firm-files-for-a-new-york-public-share-sale-4309139/
http://metro.co.uk/2014/02/18/candy-crush-saga-game-firm-files-for-a-new-york-public-share-sale-4309139/#commentsTue, 18 Feb 2014 19:09:03 +0000http://metro.co.uk/?p=4309139]]>

Candy Crush Saga has been a mobile gaming phenomenon

Computer games developer King which makes the blockbuster mobile game Candy Crush Saga has announced it will try to raise £299m by floating on the New York Stock Exchange.

London based tech firm King Digital Entertainment has made a regulatory filing for an IPO (initial public offering) but has not yet revealed just how many shares it will be offering or their price range.

It’s thought the firm could be valued at around 5bn US dollars after the public debut expected in March or April.

Documents showed the sum it is hoping to raise as being around 500m US dollars and will include shares offered by the company as well as those offered by existing stockholders.

The Candy Crush game started on Facebook in 2012 and involves trying to match brightly coloured sweets on a grid to solve puzzles.

King also makes the game Pet Rescue Saga, but Candy Crush it its star product and was the top downloaded free mobile app last year.

It has been downloaded more than 500m times since it was launched in 2012 and helped King Digital Entertainment to a revenues haul of 600m US dollars in the final quarter of 2013 and profits of around 160m dollars.

While the app is free, players can pay for other options in the game.

The firm plans to use proceeds from the sale for working capital and other general corporate purposes, which may include acquisitions.

But it will not receive any proceeds from shares offered by the selling stockholders.

In its filing King, which has its base in London and games development studio in Stockholm, said it was looking to expand its portfolio of games saying : ‘A small number of games currently generate a substantial amount of revenue.’

Barclays fuelled anger over City pay yesterday by announcing job cuts of up to 12,000 this year while simultaneously bumping up its staff bonus pool to £2.4bn.

The group said around 7,000 jobs would go in the UK – including some branch-based roles – under plans to slash costs across the group.

Around half of the affected employees had already been told the bad news, it said.

Unions said the bonus news was ‘scandalous.’ Barclays shares fell 3.75 per cent in London.

‘Banks are still handing out multibillion-pound bonuses while Britons have suffered job losses, pay freezes and cuts to public services after the financial crisis,’ said TUC general secretary Frances O’Grady.

‘Barclays has stuck two fingers up to hard-pressed families across Britain.’

The size of the bonus pot was increased by 10 per cent on last year’s £2.2 billion haul, despite a 32 per cent drop in underlying annual profits to £5.2 billion.

The group’s profit figures were unusually announced a day early on Monday following a media leak.

The bumper payout will mean its 26,200 investment banking employees share out a £1.6 billion bonus pot for 2013, up 13 per cent on 2012, giving an average payout of £60,100 per employee in the division.

Barclays chief executive Antony Jenkins needs to pay to keep talent

Chief executive Antony Jenkins defended the increase in staff incentives, saying the group believes in ‘paying for performance and paying competitively’.

Mr Jenkins has refused to take his own 2013 bonus of up to £2.75m.

He also insisted the bank was in a better position than it had been in for years but admitted Barclays had more work to do in an overhaul which aims to reduce costs by £16.8 billion by 2015.

He said staff numbers would be badly hit by 10,000 to 12,000 job losses this year out of its 140,000-strong workforce.

This follows more than 7,600 jobs axed in 2013.

The latest cuts will affect employees across the bank, including customer-facing staff as well as senior managers, with 220 managing directors and 600 directors facing the axe.

Around 400 of those senior job cuts are from the investment bank. Barclays said 1,700 of the overall job losses have already been announced.

Mr Jenkins also confirmed it would close some of its 1,600 UK branches over time as more people bank online, but said there was no planned timescale.

The Institute of Directors (IoD) also criticised Barclays after results showed its bonus pool dwarfed the £859 million paid out in dividends to shareholders last year, despite increasing from £733 million in 2012.

Roger Barker, director of corporate governance at the IoD, said: ‘It cannot be right in any business for the executive bonus pool to be nearly three times bigger than the total dividend pay-out to the company’s owners.

“The question must be asked – for whom is this institution being run?’

Business Secretary Vince Cable also called on the banking sector to curb pay.

‘We need a responsible banking sector which rejects the bonus-fuelled culture of the past and puts the needs of consumers and businesses back at the heart of what they do,’ he said.

Poundworld is hoping to boost the popularity of fixed price shopping today by launching what it claims is the UK’s biggest online pound store http://www.poundshop.com.

The shopping website featuring thousands of products priced at £1, will go live this afternoon at 2pm and is set to challenge rivals who currently only have high street stores by allowing shoppers to grab a bargain without leaving their homes.

Poundworld, which is Britain’s third biggest set price discount chain, is thought to be the first of the high street names to trade online, although independent Internet retailer hereforapound.com launched recently.

It’s new e-customers must spend a minimum of £10, but delivery is nationwide from its warehouse based in Gateshead, Tyne and Wear and costs a flat fee of £3.65.

The online store has been created in partnership with former Poundland entrepreneur Steve Smith who sold his interest in the rival business 12 years ago for £50m.

He said: ‘Our aim is to offer shoppers a unique service and great value at the click of a mouse.’

Yorkshire based Poundworld has 250 shops and opened 50 new stores last year in towns and cities including central London – a figure it hopes to match in 2014.

Poundworld plans to sell thousands of lines including branded goods such as Haribo, Colgate, Cadbury’s and Johnson’s.

Britain’s pound shops say their business model has wide appeal with 10 per cent of its customers from the top social classes.

Photographer turned author Matt Watkinson has scooped the prestigious CMI Management Book of the Year award at his first attempt.

The 30-year-old from South Oxfordshire took four years to perfect his book ‘The Ten Principles Behind Great Customer Experiences’ which was judged the best this week, in the Chartered Management Institute’s competition run in association with the British Library.

Matt’s book, published by Pearson, won the Innovation and Entrepreneurship category before being chosen as overall award-winner.

The CMI said the book should inspire managers to put more focus on customer experience.

Leading economist and competition judge, Professor Chris Roebuck, said the book addressed the problem of how to keep costs under control without sacrificing customer experience.

He said: ‘It addresses some of the key challenges managers are facing.’

Matt Watkinson, said: ‘If you only take three tips from my book to help put the customer at the centre of your organisation, they should be to think about customer expectations, be effortless to deal with, and consider all areas of the customer experience including social and sensory.’

Good news for Derby’s Bombardier plant after disappointment just 3 years ago

Train maker Bombardier is celebrating winning a £1bn contract to supply trains for the £15bn London Crossrail scheme which will support more than 1,000 UK jobs.

The contract with Department for Transport and Transport for London will see Bombardier of Canada building 65 trains at its plant in Derby, safeguarding 780 jobs and 80 apprenticeships.

It also involves the construction of a maintenance depot at Old Oak Common in north-west London which will create 244 jobs and 16 apprenticeships. Another 80 jobs will be created to maintain the new fleet of trains.

The news was welcomed as a huge boost for UK manufacturing.

Prime Minister David Cameron said the announcement was ‘great news for Bombardier and Derby’ while Business Secretary Vince Cable said it was ‘a real vote of confidence in British manufacturing.’

Bombardier’s Crossrail train will be super efficient

Each Crossrail train will be 200 metres long and able to carry up to 1,500 passengers.

Bombardier managing director Francis Paonessa said the company had spent £20 million developing the new Aventra train which will be painted purple and black.

He said: ‘The news is a real endorsement of the hard work the team has put in. We have been working on the design for the past year.

‘The train has wider gangways, is much lighter and more energy efficient.’

Three years ago Bombardier lost out to Siemens of Germany on a £1.6 billion contract for trains for the Thameslink project.

The German company had also been in the running for the Crossrail contract but dropped out last year, leaving Bombardier to face Japanese firm Hitachi and CAF of Spain.

Losing bidder Hitachi Rail Europe which has its headquarters in London said the Canadian company Bombardier, was not the only train manufacturer in Britain.

It said its trains would have been built at the firm’s £82m factory in Newton Aycliffe, in County Durham, which will be building Class 800 series trains for the Great Western and East Coast routes starting next year, employing 730 skilled staff.

Hitachi Rail Europe Chief Executive Alistair Dormer said: ‘We are disappointed to have lost out in this bid but this will not stop us making great trains for the British and European market from our factory at Newton Aycliffe.’

Developing new products will be key for new Microsoft chief executive Satya Nadella Pic: Reuters

Tech giant Microsoft has named Indian born Satya Nadella as its new CEO in an executive reshuffle which also sees founder Bill Gates stepping down as company chairman.

Nadella, a 46-year-old computer science expert, has been given the job of delivering a raft of new products, in a bid to claw back ground won by competitors including Apple and Google.

Mr Nadella has worked for Microsoft for 22 years and replaces Steve Ballmer to become only the third leader in the software company’s 38-year history.

Bill Gates meanwhile is taking on a new role on the board as founder and technology adviser and will spend more time shaping technology and products.

Mr Nadella said: ‘The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster and continue to transform.’

Mr Nadella had until now been in charge of the company’s cloud and enterprise division – an area which presents Microsoft with opportunities for growth and innovation.

Analysts hope that he can maintain the company’s momentum in the rapidly expanding field of cloud computing.

Microsoft’s cloud computing offering, Azure, and its push to sell Office software as part of an annual subscription package are seen as the biggest drivers of growth in the next couple of years.

‘ Satya’s vision for how technology will be used and experienced around the world is exactly what Microsoft needs,’ Gates said in a statement.

Microsoft has been late adapting to developments in the technology industry. Google dominates online search and advertising and its strength in personal computing has been hit by the popularity of iPhones, iPads and Android devices.

But good ideas are for sharing, and entrants and other would be retailers are being invited to take a picture of their product or idea and send it out to the world by tweeting their image or just words to #Worth2014.

Worth Retail is using the social media newswire, Storystream, to collect your images and words together in one place, for extra inspiration!

Worth co-founder Alex Johns said: ‘It’s wonderful to see the sheer depth of ideas and products coming in to us, and to be able to share them in a new way through this living, breathing channel.’

Hundreds of would be retail stars have now entered the £300,000 contest, which is aiming to reward the winner with up to £150,000 of investment and two runners up with up to £75,000 each, plus cash and mentoring and advice worth thousands of pounds more.

The contest which is being partly financed by a crowdfunding drive through Seedrs has already surpassed its original £200,000 target.

All entries must be submitted by March 7.

The contest is free to enter at: worthretail.com/foundation. Investors who want to support the project should visit: seedrs.com/startups/worth, for details.
Also watch out for more details at: metro.co.uk/money, and on the Twitter page #Worth2014.

The coalition’s economic policies are delivering a ‘brighter economic future’, George Osborne said.

The chancellor hailed figures that showed growth last year was the highest since 2007. Gross domestic product rose by 1.9 per cent in 2013 and has now recovered the lion’s share of output lost in the recession.

The pace of recovery slowed slightly in the fourth quarter of 2013 to 0.7 per cent, according to the Office for National Statistics. But economists are predicting an annual improvement of up to three per cent for 2014.

Mr Osborne said: ‘These numbers are a boost for the economic security of hard-working people.

‘It is more evidence that our long-term economic plan is working.

‘But the job is not done and it is clear that the biggest risk now to the recovery would be abandoning the plan that is delivering jobs and a brighter economic future.’

Labour and the unions say this has yet to feed through to pay packets, with wage growth lagging behind inflation.

They warn the recovery is led by house prices and growing consumer debt and could be unsustainable.

GDP is 1.3 per cent below its pre- recession peak in 2008. But ONS chief economic adviser Joe Grice said 80 per cent of the decline caused by the downturn has been recovered.

TUC general secretary Frances O’Grady said: ‘Any return to growth is welcome but this is the wrong kind of recovery and is two years late.

‘The recovery is yet to reach whole swathes of the country or feed into people’s pay packets. This must change if the benefits of recovery are to be felt by both businesses and workers.’

More than £20 billion will be returned to Vodafone’s UK shareholders after the company announced it has struck one of the biggest deals in corporate history.

The mobile phone giant has confirmed it has sold its 45 per cent stake in Verizon Wireless to the firm’s majority owner, US telecoms group Verizon Communications in a deal worth £78 billion ($130bn).

Shareholders of both Vodafone and Verizon approved the takeover which was announced to London’s Stock Exchange after close of trading today.

Vodafone shareholders also voted for one of the biggest payouts ever as 71 per cent of the proceeds of the deal – equal to £51bn ($84bn) – will be returned to them.

‘This is the largest single return of value to shareholders in history,’ said Vodafone chairman Gerard Kleisterlee, who added that it opened an important new chapter for the company.

Investors will cash in to the tune of around 104p per share following the deal, which is the third biggest in corporate history. Shareholders in the FTSE 100 company will receive payouts in a split of around 30p cash to 70p Verizon shares.

At the time the sale was agreed, it was forecast the scale of the shareholder windfall was so big that it would provide a significant boost to the UK economy.

But Vodafone’s stock market value is expected to be reduced from around £110 billion to around £60 billion.

Vodafone is expected to invest some of the funds in its faster 4G mobile phone networks in the UK and Europe.

However the reduction in the size of the comapny could make it a takeover target. Chairman Mr Kleisterlee would not comment yesterday on speculation.

Bristol based business Slingshot Effect is planning to expanding its urban street games firm in the UK and the US after sell a out season last year.

The creative tech firm sells fun nights out by turning run of the mill city streets from London to Newcastle and Glasgow into alternative backdrops for a piece of fictional storytelling.

Co-founders Simon Johnson and Simon Evans hire actors and hundreds of voulunteers in each city, who become street chasing zombies for the night as customers try to solve puzzles and navigate street maps to safety.

The five year old business’s ‘2.8 Hours later’ game (www.2.8hourslater.co) /has become a bestseller, with tickets costing between £28 and £60.

But Slingshot Effect also has plans to develop a London Dungeons game based on Jekyll and Hyde called Jekyll 2.0, and raise crowdfunding to fund a push into America.

Simon Johnson (pic left) and Simon Evans mix art and technology in their business

Co-founder Simon Evans said: ‘We use tech and artistic skills to change the experience people have of ordinary City streets as the game combines mobile computing combined with mini performances. Success depends on the decisions you make with all the information available.’

‘We have been really encouraged by the appeal of the game to lots of different ages from 18 upwards. Just as many women as men play and from all sorts of backgrounds.’

So far the firm has been supported by the Arts Council and TSB funding, but as a business turnover has grown from just £19,000 in 2009 to an expected £815,000 this year.

Crowdfunding firm Seedrs said the original £200,000 target was already the biggest equity crowdfunded ‘Fund’ it had raised. Funds differ from individual campaigns as they invest in multiple businesses rather than single enterprises.

Seedrs’ Marketing Director Alysia Wanczyz said: ‘Since a private launch just four days ago, a quarter of the funding has come in during a 24 hour period. Usually ventures have 24 days in which to raise the amount they are looking for, so it’s a fast moving fund.

‘We always recommend that investors diversify their portfolios to reduce risk and funds allow people to spread their risk between businesses.’

To be eligible, retailers must have been trading for no more than two years, have a turnover of less than £250,000, and a great idea they’re sure will be the next big thing.

The contest is free to enter at: worthretail.com/foundation. Investors who want to support the project should visit: seedrs.com/startups/worth, for details.
Also watch out for more details at: metro.co.uk/money, and on the Twitter page #Worth2014.

Today sees the exciting launch of the Worth Foundation Fund competition to reward Britain’s most talented retail entrepreneurs with a game changing prize.

Set up by Worth Retail consultancy (worthretail.com/foundation) founders Paul Soanes and Alex Johns, and supported by Metro Business, the contest launches a nationwide search for big ideas to get tills ringing.

Winners and runners-up can tap into an investment prize of up to £200,000 raised on equity crowdfunding platform Seedrs.

It means the general public can invest in and own a portion of each of the Worth Foundation winning businesses.

Once the contest is closed and investment target reached, the winner will have access to up to £100,000 of investment cash and up to £50,000 for each of two runners-up.

Worth is offering the winner access to a further £3,000 plus £9,000 worth of expert mentoring, and the chance to try out a pop-up shop at London’s Shoreditch’s Boxpark for one month.

Runners-up will receive £1,500 each and £4,500 worth of mentoring from the team.

Shortlisted entrants must pitch to a judging panel including Worth’s retail experts Alex Johns and Paul Soanes along with top UK entrepreneurs: Roger Wade of Boxpark, Jeff Lynn of Seedrs and Michael Acton Smith of Mind Candy.

Experts Alex and Paul have previously helped names such as cosmetics brand Maybelline and the BBC by using technology and slicker processes to boost bottom lines.

Paul Soanes said: ‘“People complain the retail landscape is changing too fast, but with the right knowledge this presents a real opportunity.

‘We want to find talented people with fire in their belly for retailing.’

To be eligible, retailers need to have been trading for no more than two years, have a turnover of less than £250,000, and a great idea they’re sure will be the next big thing with the right support.

Alex Johns added:’If businesses are to survive, they need to know how to attract, and keep, the right customers, and we are looking forward to helping up and coming retailers do just that.’

‘Race Yourself’ business owners Alex Foster and Ben Gamble have been helped by a Start Up Direct loan.

Would-be entrepreneurs in London are being encouraged to apply for a slice of £2.5m in start-up funding.

The seed finance has been released to finance around 400 new start up businesses in the capital this year.

The cash is being made available through Start Up Direct, based in London’s ‘Tech City’.

As well as offering loans of up to £15,000, Start Up Direct, which is part of the government’s start-up loans scheme, is offering new firms mentoring help and access to workshops and networking events, one to one business coaching and a business helpline.

James Pattison, Managing Director of Start Up Direct, said: ‘We are seeing a real coming together of talent and ideas, alongside an enthusiasm for entrepreneurship from investors and the Government who recognise that start ups are playing a vital role in the economic recovery.’

Tech start up Race Yourself is one fledgeling buisness which has already benefited from a loan from the scheme.

Founded Alex Foster and Ben Gamble, the business is an app using the soon to be released Google Glass, which transforms exercise regines into a reality game.

Google Glass is a computer which allows users to race against themselves, a friend or a horde of flesh eating zombies!

Currently at the beta testing stage, Race Yourself has expanded its team to eight and developed a prototype, as well as securing a further £200,000 of angel investment.

Co-founder Alex Foster said: ‘We needed a cash injection to develop it into a workable product.’

Marks and Spencer’s Christmas push failed to boost sales in its clothing and homewares lines.

Sales in its general merchandise unit fell 2.1 per cent on a like for like basis, which excludes new stores, in the three months to the end of December which was the 10th successive quarter drop.

But M&S boss Marc Bolland blamed a vicious Christmas price war today and said full-price sales were up in November and December. Figures showed an improvement of 0.5 per cent over the eight weeks to Christmas Eve.

The company warned reductions in the run-up to Christmas – including a ‘Mega Day’ with 30 per cent off clothing lines – would hit profit margins when full results are released later this year.

Marks and Spencer had hired new senior personnel and a major marketing push in an attempt to revitalise sales in the general merchandise division.

Mr Bolland said the company had been largely holding its nerve on full-price sales but was forced to act as high street rivals began discounting early.

He said: ‘Anyone who was on the high street could see the whole market was already red the weekend of December 14.’

‘I must confess that this was not an easy Christmas.’

Bolland said that while the quarter had been difficult, there were encouraging signs including small growth in market share for womenswear.

Marks said it enjoyed a good performance in coats, dresses and footwear, while its spring and summer collection had been well received.

Food sales however rose by 1.6 per cent on a like for like basis. Record daily food sales saw £64 million in groceries go through the check-outs on December 23 and the company said one in four families enjoyed an M&S turkey on Christmas Day.

And total international sales were up 4.5 per cent for the quarter and Mr Bolland said a 23 per cent rise in online sales was well ahead of the market.

Luxury car giant Rolls-Royce is to create 100 new jobs after reporting the fourth consecutive year of record sales.

Over 3,630 cars were delivered to customers in 2013, the highest in the firm’s history, with sales growth reported across several regions around the world.

The biggest increases were in the Middle East where sales rose 17 per cent and in China where sales were 11 per cent higher, but strong sales were also achieved in Germany, Japan and Canada.

The new jobs will be created at the firm’s UK centre in Goodwood, Sussex, mainly in manufacturing roles.

Torsten Muller-Otvos, Chief Executive of Rolls-Royce Motor Cars said: ‘My aim at the beginning of last year was sustained growth and another sales record. I am delighted to announce our sales for 2013 and to celebrate the 110th anniversary of the marque with an historic record result.

‘We have reported a strong year and have maintained our position at the pinnacle of the super-luxury market. Rolls-Royce is a British manufacturing success story, with a dedicated workforce that is second to none.’

The company said 2013 was another record year for requests to personalise models, ranging from the inclusion of jewellery boxes and fridges to a family crest.

Business Secretary Vince Cable said: ‘Rolls-Royce’s impressive sales record and the new jobs they have created shows the strength of this iconic brand and reflects the rising success of the British car industry.

‘Last year, car exports generated over £30 billion for our economy – a rise of around 7%. The Government’s industrial strategy is giving businesses like Rolls-Royce the confidence to invest, delivering skilled jobs and driving growth.’

]]>http://metro.co.uk/2014/01/09/rolls-royce-creates-100-jobs-after-record-car-sales-4255037/feed/0Jayne Atherton for Metro.co.ukAn engineer looking under the bonnet of a Phantom at the Rolls RHarvey Nichols gets a female boss as Stacey Cartwright is named CEOhttp://metro.co.uk/2014/01/08/harvey-nichols-gets-a-female-boss-as-stacey-cartwright-is-named-ceo-4255250/
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New Harvey Nichols CEO Stacey Cartwright is experienced in the luxury retail market

Luxury department store chain Harvey Nichols has announced that former Burberry executive Stacey Cartwright will become its new Chief Executive Officer next month.

She replaces Joseph Wan, who is retiring.

Stacey was previously Chief Financial Officer and Executive Vice President of Burberry Group for nine years where she played a leading role in transforming Burberry into a world leading luxury brand, increasing turnover from £676million when she joined in 2004 to over £2billion in 2013.

She was also responsible for overseeing Burberry’s successful entry into new markets including China and the Middle East.

Stacey Cartwright said: ‘I am delighted to be joining Harvey Nichols at such an exciting time in the luxury retail market; a market which demonstrates significant potential and for which I have enormous passion. I am excited by the opportunity to further develop this world class brand both in the UK and internationally.’

British Money’s Simon Burgess wants balance between profits and service restored

A campaigning businessman who hit out at the misselling culture of Payment Protection Insurance, has launched a new policy aimed at rehabilitating the sector.

Simon Burgess, co-owner and director of online provider British Money, this week launched Universal Cover for mortgagers and remortgagers, promising discrimination-free premiums and fairer cover for a wide range of health conditions.

It’s estimated that around £12 billion has been paid out since 2011 by PPI sellers, by way of compensation to victims of misselling.

Burgess is now on a mission to show policies can be ethical and cost effective.

‘People still need PPI as protection against illness and unemployment or if consumers need to become full time carers, but what they don’t want is to be ripped off,’ said Mr Burgess who turned consumer champion during the PPI misselling scandal where banks and other lenders sold policies to customers without a full explanation, and in some cases without giving them an opportunity to buy elsewhere.

He added:’We are hoping that our fair and ethical approach will revitalise consumers’ appetite for this type of cover which is still badly needed especially as state benefits are means tested, meagre and set to be reduced further.

‘PPI became a money maker where much of the premium was profit. Our business model uses the majority of the premium to pay claims.’

Traditionally, PPI is designed to cover personal loans and credit cards payments if you cannot work, but Universal Cover will only cover mortgages.

Burgess’s product has taken 9 months to develop and charges £4 for every £100 of cover, regardlesss of factors including age, occupation or smoking habits.

Independent protection expert Louise Cuming said the policy was probably superior to the Defaqto 5-star baseline which rates insurance products. She said:: ‘It will likely bring much-needed credibility back to this sector.’

Sales of the latest tech are also expected to increase. Smartwatch sales are expected to be 1.5 million units globally this year, up from 1 million in 2013, said Shawn DuBravac, the association’s chief economist.

‘This is a very nascent market. We’re still looking for that killer application for that particular device,’ he said.

Ultra HD televisions, which roughly quadruple the number of pixels of a high-definition set, are also seen taking off.

There were 60,000 such sets sold in the US alone last year, a number expected to hit 485,000 this year, the association said. But that is still a small number compared with the nearly 40 million TVs sold in the US each year, Mr DuBravac said.

Signs of recovery – but the future of some high street stores still hangs in the balance

The number of retailers going into administration fell by 6 per cent overall in 2013, compared to the year before.

But the final quarter of last year aw a surge in the number of firms in trouble.

Research from business advisory firm Deloitte found 183 retailers entered administration over the last 12 months compared with 194 in 2012.

High street firms were thought to be doing well from being left standing after the collapse of rivals, but the last three months of the year saw an increase of 11 per cent compared to the previous fourth quarter.

Lee Manning, restructuring services partner at Deloitte, said: ‘The high street has undergone a re-balancing, and this is what is being reflected by these figures.

‘A year ago we were about to see HMV, Blockbuster and Jessops enter administration, but I would not expect as many high-profile retail casualties this time round.

‘This does not mean demand is increasing, more that the clear-out will benefit those still standing in 2014.’

In total, 1,629 businesses went into administration in 2013, which was 11 per cent lower than the figure of 1,833 seen the previous year.

Almost all sectors tracked in the analysis saw a decline in the number of business failures, including a 24 per cent fall in property and construction, and a 4 per cent decrease among manufacturing firms.

]]>http://metro.co.uk/2014/01/02/high-street-boost-as-fewer-retailers-enter-administration-4246690/feed/0Rundown streets, To Let signs, and boarded up shops, in the City